Teva Pharmaceuticals

AAA

On February 22 we mentioned that the Biotech HOLDRs ETF was trading within a descending channel and that it would be interesting to see if it could head higher. As you can see from the chart below, the bulls were able to push BBH above the trendline today, which is now being used by traders to confirm buying opportunities found in other biotech stocks. For example, as you can see from the chart of TEVA (lower chart), it has also broken above the upper resistance of a descending trendline and now looks like it will go higher.

We've also added the MACD to the chart of TEVA, which has recently crossed above its signal line. This bullish crossover will also be used by the bulls as confirmation of further upward momentum

BBH_022706.jpg
TEVA_022706.jpg

You May Also Like

Related Analysis
  1. Chart Advisor

    Use These Two ETFs To Profit From A Reversal In Gold

  2. Chart Advisor

    Trade Strong U.S. Small Caps with this ETF

  3. Stock Analysis

    Faceboook (FB) Revenue Surges on Mobile Ads - Stocks in the News

  4. Stock Analysis

    Zacks Rank Buys: Infinera (INFN) & PolyCom (PLCM) - Video Blog

  5. Stock Analysis

    Will Occidental Petroleum (OXY) Miss on Earnings in Q4? - Analyst Blog

Trading Center